FXstreet.com (Córdoba) - Greenback rose sharply across the board during the Asian session but then lost momentum and lost most of the gains. Dollar rose against Cable and currencies tied to commodities and still moves in ranges against the Euro and the Swiss Franc. The Yen rose to a 6-week high to the Dollar and tested key support levels against European currencies.
Stocks fell worldwide and treasuries rally helping the safe heaven currencies. The Yen was the best performer among major and rose across the board. USD/JPY consolidated below 89.00 and broke below the support at 88.55, suggesting that the pair could fall further in the coming session. EUR/JPY trades barely above an uptrend line and GBP/JPY trades at 146.75, only 75 pips above a key support. The pair fell to 146.15, posting a 5-week low.
EUR/USD is still moving in ranges. Dollar lost daily gains but the Euro failed one more time to break above 1.5000. The pair is still moving sideways between 1.5060 and 1.4800. The Euro also weakened against the Swiss Franc and trades at the lowest level in a week. EUR/CHF fell below 1.5100 as the pair failed to confirm last week highs.
Cable ended a few pips below the opening price against the Dollar after being rejected from levels below 1.6500. But the Pound failed to get back above 1.6600. To the Euro, the Sterling was able to recover after falling to a one-week low. EUR/GBP jumped to 0.9056 posting the highest price since November 12 but the pair failed to hold and pulled back to 0.9000.
Currencies tied to commodities finished near the same opening prices against the Dollar.